Two Sigma Advisers LP Purchases Shares of 18,700 Methanex Co. (NASDAQ:MEOH)

Two Sigma Advisers LP purchased a new stake in shares of Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 18,700 shares of the specialty chemicals company's stock, valued at approximately $934,000.

Several other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its holdings in shares of Methanex by 39.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after purchasing an additional 573 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Methanex in the 4th quarter worth approximately $106,000. State of Wyoming purchased a new position in shares of Methanex in the 4th quarter worth approximately $129,000. Blue Trust Inc. boosted its holdings in shares of Methanex by 15.0% in the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after purchasing an additional 371 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Methanex in the 4th quarter worth approximately $166,000. Hedge funds and other institutional investors own 73.49% of the company's stock.

Methanex Stock Down 1.1%

MEOH stock traded down $0.38 on Thursday, hitting $32.81. 242,960 shares of the company's stock were exchanged, compared to its average volume of 398,110. Methanex Co. has a 12-month low of $25.46 and a 12-month high of $54.49. The firm has a 50 day moving average price of $31.22 and a two-hundred day moving average price of $40.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The stock has a market cap of $2.21 billion, a P/E ratio of 14.20 and a beta of 0.93.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. The business had revenue of $857.90 million for the quarter, compared to the consensus estimate of $1.06 billion. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. As a group, equities research analysts expect that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.74 annualized dividend and a yield of 2.26%. Methanex's payout ratio is presently 24.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MEOH shares. Royal Bank of Canada decreased their price target on Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. UBS Group decreased their target price on Methanex from $51.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Wall Street Zen lowered Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Raymond James reduced their price target on Methanex from $62.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Barclays dropped their target price on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $48.25.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.